What is what? and how much !
• I.T.P. = Property Transmission Tax: 7% of declared price.
Applicable on resales.
• Notary costs: Approx. 0.6% to 1% of declared price.
• Registration charges: Approx. 0.3% to 0,7% of declared
price.
• Plusvalía = Tax on Rise in Value of Land: Approx.
0.2% to 2% of declared price.
Resales involving a non-resident seller are subject to a 3%
tax deduction which must be paid to the Tax Office in the name
of the seller. Part of this amount (or, in the best of cases,
all of it) is refunded in a few months.
Annual running costs
• Cuota de comunidad = Maintenance
charge (covering the maintenance of common areas and costs
such as gardens, swimming-pool, street lighting, vigilance,
etc.): Typically from 150 to 360 €.
| • Income Tax (during
the second half-year): |
1) Divide declared price
by 2. |
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2) On the result, calculate: |
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1.1%, if your property is situated
in Orihuela, or
2%, if your property is situated in Torrevieja. |
| |
3) Your income tax is 25% of the
result of step 2. |
• Capital Tax (during the second
half-year):
- 0.2% of declared price if this is 110,000 € or lower.
- 0.3% of declared price if this is higher than 110,000 €.
• I.B.I. = Local Real-Estate Tax: Approx. 0.4% to 0.8%
of your property's taxable value ("valor catastral").
• Water and rubbish collection: From approx. 60 €.
• Electricity: From approx. 60 €.
• Insurances: From approx. 110 €.
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